Which of the following is TRUE? A. Customs unions require the creation of a common currency. B. The European Union is a shallower and broader form of integration than NAFTA. C. A common market is more deeply integrated than a customs union. D. NAFTA is an example of a customs union.

A customs union consists of an international agreement in which nations accept to trade mutually without restrictions and also agree to set some measures regarding trade with other external nations. These are more integrated than a free trade area but not as much as a common market that has a much more defined region.

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Which of the following is​ TRUE? A. Customs unions require the creation of a common currency. B. The European Union is a shallower and broader form of integration than NAFTA. C. A common market is more deeply integrated than a customs union. D. NAFTA is an example of a customs union.

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Which of the following is TRUE? A. Customs unions require the creation of a common currency. B. The European Union is a shallower and broader form of integration than NAFTA. C. A common market is more deeply integrated than a customs union. D. NAFTA is an example of a customs union.